Adams Natural Resources Fund Inc. Has $2,616,000 Stake in Forum Energy Technologies, Inc. (FET)

Adams Natural Resources Fund Inc. continued to hold its position in Forum Energy Technologies, Inc. (NYSE:FET) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 167,700 shares of the oil and gas company’s stock at the end of the second quarter. Adams Natural Resources Fund Inc. owned approximately 0.17% of Forum Energy Technologies worth $2,616,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. increased its position in Forum Energy Technologies by 28,940.8% in the first quarter. BlackRock Inc. now owns 4,365,706 shares of the oil and gas company’s stock worth $90,370,000 after buying an additional 4,350,673 shares during the last quarter. Jennison Associates LLC purchased a new position in Forum Energy Technologies during the first quarter worth about $52,681,000. Van ECK Associates Corp purchased a new position in Forum Energy Technologies during the first quarter worth about $25,200,000. Norges Bank purchased a new position in Forum Energy Technologies during the fourth quarter worth about $19,409,000. Finally, Kennedy Capital Management Inc. purchased a new position in Forum Energy Technologies during the first quarter worth about $13,033,000.

Shares of Forum Energy Technologies, Inc. (FET) traded up 4.608% during mid-day trading on Tuesday, reaching $15.325. The company’s stock had a trading volume of 408,769 shares. The company’s 50 day moving average price is $15.75 and its 200-day moving average price is $18.80. The company’s market capitalization is $1.47 billion. Forum Energy Technologies, Inc. has a 1-year low of $14.05 and a 1-year high of $26.25.

Forum Energy Technologies (NYSE:FET) last released its quarterly earnings data on Thursday, April 27th. The oil and gas company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.02. Forum Energy Technologies had a negative return on equity of 5.16% and a negative net margin of 12.50%. The company had revenue of $171.10 million for the quarter, compared to analyst estimates of $164.38 million. During the same period last year, the company posted ($0.22) earnings per share. The firm’s revenue was up 7.3% compared to the same quarter last year. Analysts predict that Forum Energy Technologies, Inc. will post ($0.30) earnings per share for the current fiscal year.

FET has been the topic of a number of recent research reports. BidaskClub downgraded Forum Energy Technologies from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Zacks Investment Research raised Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research report on Tuesday, April 18th. J P Morgan Chase & Co raised Forum Energy Technologies from an “underweight” rating to a “neutral” rating and set a $16.00 price objective on the stock in a research report on Tuesday, May 16th. Wolfe Research downgraded Forum Energy Technologies from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $24.00 to $21.00 in a research report on Monday, April 17th. Finally, Scotiabank set a $24.00 price objective on Forum Energy Technologies and gave the company a “hold” rating in a research report on Monday, May 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $20.76.

Forum Energy Technologies Company Profile

Forum Energy Technologies, Inc is an oilfield products company. The Company designs, manufactures and distributes products, and engages in aftermarket services, parts supply and related services. The Company operates through three segments: Drilling & Subsea, Completions, and Production & Infrastructure.

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